v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (71,150) $ (15,945)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of digital assets 54,408 0
Change in fair value of digital assets receivable, net 5,653 0
Share-based compensation 1,288 (144)
Gain on derivative liabilities, net (813) 0
Noncash asset management and advisory expense 2,521 0
Noncash lease expense 0 214
Depreciation expense 0 368
Loss on disposal of property and equipment 0 14
Gain on disposition of a nonfinancial asset 0 (500)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (51) 2,150
Other long-term assets (652) 0
Accounts payable 85 (2,992)
Accrued liabilities (410) (4,009)
Net cash used in operating activities (9,121) (20,844)
Cash flows from investing activities:    
Purchases of digital assets (100,000) 0
Proceeds from sale of digital assets 5,040 0
Net proceeds from written Covered Call Options 853 0
Purchase Of SAFE Investment 1,000 0
Proceeds from maturity of short-term investments 0 34,640
Proceeds from sale of property and equipment 0 10
Proceeds from the disposition of a nonfinancial asset 0 500
Net cash (used in) provided by investing activities (95,107) 35,150
Cash flows from financing activities:    
Proceeds from the issuance of Common Stock and Pre-Funded Warrants in July 2025, net of offering costs 92,190 0
Proceeds from issuance of Common Stock through our ATM Program, net of issuance costs 4,628 0
Repurchase of Common Stock (4,895) 0
Net cash provided by financing activities 91,923 0
Net (decrease) increase in cash and cash equivalents (12,305) 14,306
Cash and cash equivalents at beginning of the year 18,011 3,705
Cash and cash equivalents at end of the year 5,706 18,011
Supplemental cash flow information:    
Issuance of Advisory Warrants for services rendered in the July 2025 PIPE 16,215 0
Issuance of Pre-Funded Warrants to asset manager in lieu of cash fees 1,875 0
Issuance of Advisory Warrants in lieu of cash fees 756 0
Digital assets transferred to digital assets receivable, net 15,093 0
Digital assets returned by GSR Markets $ 1,813 $ 0